Vardhman Special Steels Limited Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014
January 31, 2015 at 05:48 am EST
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Vardhman Special Steels Limited reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported net sales of INR 1,752.8 million against INR 440 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 14.3 million against INR 9.4 million a year ago. Loss from ordinary activities before tax was INR 39.5 million against INR 17.7 million a year ago. Net loss was INR 39.5 million against INR 16.0 million a year ago. Basic and diluted loss per share before and after extraordinary items was INR 2.13 against INR 0.86 a year ago.
For the nine months, the company reported net sales of INR 4,871.6 million against INR 2,366.2 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 24.4 million against INR 65.9 million a year ago. Loss from ordinary activities before tax was INR 158.1 million against of INR 153.8 million a year ago. Net loss was INR 158.1 million against INR 125.6 million a year ago. Basic and diluted loss per share before and after extraordinary items was INR 8.52 against profit of INR 8.77 a year ago.
Vardhman Special Steels Limited is an India-based company engaged in the business of manufacturing special and alloy steels. The Company is engaged in producing high-grade billets and hot-rolled bars for varied applications in engineering, automotive, tractor, bearing and allied industries. It produces a variety of steels in terms of type and size. The Company offers products, such as hot rolled, round corner square, peeled and reeled bars, peeled and ground bars, drawn and ground bars, and heat treatment bars. The Company also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. It manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.